Articles
What to do when PortfolioCenter fails to omit an intra-group transfer
One of my intra-group transfers is not being omitted on a PortfolioCenter performance report. I believe my settings are correct. Yet, that $991 is showing in both the “Contributions” and the “Withdrawals” columns. Can you explain why this intra-group flow is being treated differently than the others?
4 Transactions you should never post without checking
Some transactions are suspect and should be checked before posting regardless of which broker sends them. If you are unsure, block the transaction and call Tech Support for more information.
2017 Stock Market Holidays
In 2017 The New York Stock Exchange will be closed for the following Holidays.
How to answer ADV Item 5F using PortfolioCenter
Your Form ADV must be filed with the SEC by March 31. Wondering how to get the information out of PortfolioCenter? Here’s one example.
Why does Schwab fail to reconcile with PortfolioCenter?
Did your Schwab accounts reconcile on 12/29, but now the money market on almost every account fails to reconcile? This “problem” happens when the last day of the month falls on the weekend or a holiday.
Common Interface Error Messages
Posting some transactions in your interface may produce an error. Here are some of the most common interface error messages and suggestions for how to handle them.
Aloca (AA) spinoff Arconic (ARNC)
On November 1, 2016, Alcoa Inc became two companies. The original Arcon shares (AA) became Arconic Inc (ARNC). Then ARNC spunoff a new Alcoa Corp (AA). Great news for investors, but a headache for PortfolioCenter users.
Billing Client Accounts to the Client’s Greatest Benefit
The complexity and progressive nature of our tax system offers a host of different types of savings accounts which are all taxed differently. Because they are all treated differently, investment managers can bring clients greater savings by carefully considering how they bill these various accounts. For those fee-only managers who value honesty in their relationships with their clients and work for the clients’ best interests, the question of how to most favorably bill accounts is important.
Understanding Billing in PortfolioCenter
It’s so easy to set up billing in PortfolioCenter, you might be tempted to skip learning how and why it works. Yet, that understanding is crucial to ensuring that PortfolioCenter is calculating fees the way you intend it to bill. Here’s everything you need to understand billing.
SEC Audit: How to save your fee file
During the last two SEC Audits I “enjoyed” with my managers, the SEC Auditors requested a spreadsheet containing the “value of each client’s account at end of period that was used for purposes of calculating its advisory fee for the most recent billing period.” How do you retrieve this information in a spreadsheet?
How to install PortfolioCenter
Installing PortfolioCenter is fairly straightforward, but what if your client database is not called “PortfolioCenter”? Perhaps you’re merging businesses with another manager or you outsource PortfolioCenter and your database is called something other than the default. How do you get the program PortfolioCenter to recognize it?
Schwab statement changes: what you need to know
Starting with the July 2016 statements (mailed in August 2016), Schwab will send monthly statements only for accounts where there is “qualifying activity”. Otherwise they will send quarterly statements. You should be prepared for clients to call wondering why their monthly statement only includes $1.2M of their $2.4M in assets.
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